Scam Brokers Blacklist In 2026

We have assigned every possible scam broker in the list below a ‘Danger Rating’ from 1-5, where 5 represents the greatest danger. To be clear, we consider every single one dangerous, but some are a particularly grave threat based on the size of their scam and the level of threat they pose to investors’ funds.

The suspected scam brokers below are derived from a mix of sources; individual firms our experts have identified in their ongoing work operating in the online trading space, and firms extracted from our larger scam dataset.

Scam Broker Blacklist

Note some of the website URLs above may no longer be live as fraudulent sites are sometimes only up for days or weeks before they are shut down (often scammers then set up very similar sounding domains and branding). They were live at the time they were identified and evaluated.

We also sometimes issue standalone warnings about particularly dangerous scams. We’ve pulled out some notable examples below to show you the sorts of alarm bells that draw the attention of our team:

Call Out Warnings:

• We came across TagOption in April 2026 after it was gaining traction online, especially in Kenya. We highly suspect this is a scam broker and found 13 discrepancies between its claims and the actual trading service and experience when we ran our investigations, plus 7 specific red flags. We recommend all retail investors avoid this ‘broker’.
• We investigated Trade FDC in May 2026 and found 16 discrepancies between its claims and the reality. Most worryingly, it claimed to be authorized by four regulators (ASIC, FSCA, MFSA, VFSC), but we could not verify any of these – it appears to be at the very least highly misleading. We suggest all traders avoid this provider.

Regulator Warning Lists

To keep the list above practical in terms of size, we stick to calling out the brokers we’re most concerned about currently. However, we also recommend checking the regulators warning lists below for alerts about brokerage scams. We have listed the 25 resources our team find the best in terms of frequency of warnings and exposure of new fraudulent or unauthorized trading providers.

1. US SEC Investor Alerts and Bulletins
2. US CFTC RED List — Registration Deficient List
3. US FINRA Investor Insights and Alerts
4. UK FCA Warning List — Unauthorised Firms
5. Australia ASIC / Moneysmart Investor Alert List
6. Canada CIRO Investor Alerts
7. Canada CSA Investor Alerts
8. Canada Ontario Securities Commission Investor Warnings and Alerts
9. New Zealand FMA Warnings and Alerts
10. Singapore MAS Investor Alert List
11. Hong Kong SFC Alert List
12. ESMA Warnings and Publications for Investors
13. Switzerland FINMA Warning List
14. France AMF Blacklists of Unauthorised Companies and Websites
15. Germany BaFin Consumer Warnings
16. Italy CONSOB Warnings / Abusive Financial Services
17. Spain CNMV Warnings to the Public
18. Netherlands AFM Registers and Warning Lists
19. Belgium FSMA List of Companies Operating Unlawfully
20. Sweden Finansinspektionen Investor Alerts
21. Ireland Central Bank Warning Notices
22. Cyprus CySEC Warnings
23. Dubai DFSA Alerts
24. South Africa FSCA — Warnings and Alerts
25. Malaysia Securities Commission Investor Alert List